LONDON (Brand Republic) - Outdoor advertising company JCDecaux has announced a price range of between €21 (£12.56) and €24.5 (£14.66) for its initial public offering on the Paris Euronext in June.
The IPO values the company at between €3.8bn (£2.27bn) and €4.4bn (£2.63bn). Last year the French company had a turnover of €1.417bn (£0.85bn).
Decaux said it aims to raise around €700m (£418.76m) from this primary share offer and plans to follow it with a second one.
Cash raised from the IPO will be used to repay part of a bank loan and to pay for internal growth.
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